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    7 CHEAPEST PLACES IN THE CARIBBEAN
    SUPRISINGLY AFFORDABLE CARIBBEAN DESTINATIONS YOU NEED TO KNOW ABOUT
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      The Dominican Republic Facts And Figures

      Facts About the Dominican Republic
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      Santo Domingo, Dominican Republic
      Image Source: iStock/Stefan Becker

      Facts About The Dominican Republic

      The Dominican Republic is the oldest country in the Americas. This island nation was discovered by Christopher Colombus in 1492 during his first trip to the West Indies. The DR is known for being a country of strong faith.

      The Dominican Republic flag is the only national flag to feature the bible. Santo Domingo was home to the country’s first catholic cathedral.

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      The population of the Dominican Republic is estimated to be 95% Roman Catholic.

      With over 25 golf courses, the Dominican Republic is becoming one of the top destinations for golfers throughout Latin America and the Caribbean.

      The PGA regularly holds events in the DR and there is even a course designed by legendary Jack Nicklaus (Punta Espada Golf Club).

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      Reviewed By Kathleen Peddicord

      Kathleen is the Live and Invest Overseas Founding Publisher. She has more than 30 years of hands-on experience traveling, living, and buying property around the world.

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        Table of Contents

        Dominican Republic Data

         
        Information Type 
        Population11,441,550 (July 2024)
        Gross Domestic Product PPP (GDP)US$303.26 billion (July 2023)
        GDP Per CapitaUS$11,308.56 (May 2023)
        Inflation Rate3.46% (June 2024)
        CurrencyDominican Peso (DOP)
        Exchange Rate Versus U.S. Dollar59.14 Dominican pesos per U.S. dollar (August 2024)
        LanguageSpanish (official)
        CapitalSanto Domingo
        Population of Capital City3 million (metropolitan area)
        Time ZoneGMT minus 4
        SeasonsTropical: Wet season lasts from May to November
        International Dialing Code1-809
        Electricity110V / 60 Hz, Plug Type: A (U.S. style)
        System of GovernmentDemocratic Republic
        Current LeaderPresident Luis Rodolfo Abinader Corona
        Income Tax Rate for Residents25%
        Property Tax0% to 1%
        Capital Gains Tax27%
        Inheritance Tax3% to 4.5 %
        Rental Income Tax27%
        Transfer Tax3%
        Sales Tax18%
        Restrictions on Foreign Ownership of PropertyNone
        Local Chamber of Commerce

        Avenida 27 de Febrero No. 228, Torre Friusa, Sector La EsperillaCódigo Postal 10106 Santo Domingo, Distrito Nacional.Tel: 809-682-2688

        American Chamber of CommerceTorre Empresarial, 6to.Piso, Ave. Sarasota No. 25,Santo DomingoTel: 809-381-0777
        Primary ExportsFerronickel, sugar, gold, silver, coffee, cocoa, tobacco, meats, consumer goods.
        Residency and Visa RequirementsResidency in the Dominican Republic is easy and the country embraces—even offering rewards and incentives—to foreign residents and investors.
        Special Benefits for Foreign Residents or RetireesResidents can apply for loans, import household goods and a car tax-free, and can apply for citizenship (and thus a second passport).
        National AirlinePAWA Dominicana is the current flag carrier of the country.
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        Kathleen

        Reviewed By Kathleen Peddicord

        Kathleen is the Live and Invest Overseas Founding Publisher. She has more than 30 years of hands-on experience traveling, living, and buying property around the world.

        Where To Retire At Any Age - And Guarentee Yourself A Richer Liefstyle
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          Table of Contents

          The Dominican Republic Facts And Figures - FAQs

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          Portugal is on the Iberian Peninsula, in the southwest corner of Europe. Portugal shares that peninsula Spain, its larger neighbor.

          Portugal is known for Fado music and also for being the largest cork producer in the world.

          Portugal’s high season is during July and August, especially to coastal areas. Expect to pay at least a 30% premium on accommodation and encounter warm weather across the country.

          Yes, Portugal is a sought after retirement destination. In fact, it’s one the world’s top retirement havens.

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